Consolidated Profit and Loss Account
For the year ended 30 September 2001
| 2001 | 2001 | 2000 | ||
| Turnover | £000 | £000 | £000 | |
| Acquisitions | 540 | 5,281 | ||
| Existing Operations | 49,810 | 33,565 | ||
| –––––––– | –––––––– | |||
| Continuining Operations | 50,350 | 38,846 | ||
| Cost of Sales | (28,088) | (20,933) | ||
| –––––––– | –––––––– | |||
| Gross profit | 22,262 | 17,913 | ||
| Net operating expenses before impairment and goodwill amortisation | (11,406) | |||
| Impairment Charge | (17,882) | |||
| Goodwill amortisation | (2,842) | |||
| –––––––– | ||||
| Net operating expenses | (32,130) | (7,540) | ||
| –––––––– | –––––––– | |||
| Operating (loss)/profit | ||||
| Acquisitions | 56 | 1,497 | ||
| Existing Operations | (9,924) | 8,876 | ||
| –––––––– | –––––––– | |||
| Continuing operations | (9,868) | 10,373 | ||
| Share
of accociate's operating profit before impairment and goodwill amortisation |
522 |
|||
| Impairment charge | (21,220) | |||
| Goodwill amortisation | (998) | |||
| –––––––– | ||||
| Share of associates' operating loss | (21,696) | (128) | ||
| Profit on disposal of interest in accociate | 589 | - | ||
| –––––––– | –––––––– | |||
| (Loss)/profit on ordinary activities before interest | (30,975) | 10,245 | ||
| Interest receivable | 1,166 | 383 | ||
| Interest payable and similar charges | (121) | (312) | ||
| –––––––– | –––––––– | |||
| (Loss)/profit on ordinary activities before taxation | (29,930) | 10,316 | ||
| Tax on (loss)/profit on ordinary activities | (4,113) | (4,101) | ||
| –––––––– | –––––––– | |||
| (Loss)/profit on ordinary activities after taxation | (34,043) | 6,215 | ||
| Minority Interests | 1,295 | (243) | ||
| –––––––– | –––––––– | |||
| (Loss)/profit for the financial year | (32,748) | 5,972 | ||
| Dividend paid | (1,323) | (3,316) | ||
| –––––––– | –––––––– | |||
| Retained (loss)/profit for the year | (34,071) | 2,656 | ||
| ======= | ======= | |||
| Earnings per share | ||||
| Headline diluted | 3.7p | 4.4p | ||
| Basic | (13.2p) | 3.3p | ||
| Diluted | (13.2p) | 3.2p | ||
| ======= | ======= |
Consolidated Balance
Sheet
30 September 2001
| 2001 | 2000 | |||
| £000 | £000 | |||
| Fixed assets | ||||
| Goodwill | 36,011 | 47,331 | ||
| Tangible assets | 1,994 | 1,812 | ||
| Associates | 2,285 | 21,337 | ||
| Other Investments | 2,497 | 6,178 |
||
| –––––––– | –––––––– | |||
| 42,787 | 76,658 | |||
| Current assets | ||||
| Debtors | 18,793 | 19,605 | ||
| Cash at bank and in hand | 16,255 | 2,722 | ||
| –––––––– | –––––––– | |||
| 35,048 | 22,327
|
|||
| Creditors: Amounts falling due within one year | (34,448) | (52,666) | ||
| –––––––– | –––––––– | |||
| Net current assets / (liabilities) | 600 | (30,339) | ||
| –––––––– | –––––––– | |||
| Total assets less current liabilities | 43,387 | 46,319 | ||
| Creditors: Amounts falling due after more than one year | (62) | (180) | ||
| Provisions for liabilities and charges | (2,577) | (12,935) | ||
| –––––––– | –––––––– | |||
| Net assets | 40,748 | 33,204 | ||
| ======= | ======= | |||
| Capital & reserves | ||||
| Called-up share capital | 2,608 | 1,937 | ||
| Share premium account | 69,571 | 26,221 | ||
| Option Reserve | 1,001 | 1,853 | ||
| Profit & loss account | (31,145) | 2,717 | ||
| –––––––– | –––––––– | |||
| Equity shareholders' funds | 42,035 | 32,728 | ||
| –––––––– | –––––––– | |||
| Minority
interests
|
(1,287) | 476 | ||
| –––––––– | –––––––– | |||
| Total capital employed | 40,748 | 33,204 | ||
| ======= | ======= | |||
Consolidated Cash Flow
Statement
For the year ended 30 September 2001
| 2001 | 2000 | |||
| £000 | £000
|
|||
| Net cash inflow from operating actvities | 13,303 | 8,426 | ||
| Returns on investments and servicing of finance | 789 | 279 | ||
| Taxation | (3,665) | (2,531) | ||
| Capital expenditure and financial investment | (722) | (3,260) | ||
| Acquisitions and disposals | (19,145) | (33,049) | ||
| Equity dividends paid | (1,624) | (2,428) | ||
| –––––––– | –––––––– | |||
| Cash outflow before management of liquid resources and financing | (11,064) | (32,563) | ||
| Management of liquid resources | (2,300) | 13,278 | ||
| Financing | 24,597 | 15,792 | ||
| –––––––– | –––––––– | |||
| Increase/(decrease) in cash in the year | 11,233 | (3,493) | ||
| ======= | ======= | |||
"The above figures have been extracted from statutory accounts for the year ended 31 September 2001. The auditors' report on those accounts was unqualified and did not contain any statement under section 237(2) or (3) of the Companies Act 1985."
